CBS in all SBI branches by year end

TIRUPUR: State Bank of India has taken steps to network all its nearly 4000 branches across the country with core bank solutions (CBS) by the year end, a senior Bank executive said on Wednesday.

Nearly 2,800 branches, covering 70 per cent of the bank's business had already been brought under the CBS and the remaining would be brought by the year end, Deputy Managing Director and Chief Credit Officer, S V Gupta told reporters here.

On 'unprecedented' credit growth during the last couple of years, Gupta said a mechanism would be worked out so that there would not be any financial crunch.

"The banks will see to it that credit growth, which is 32 per cent year-on-year basis, will not be restricted," he said.

Gupta, here to inaugurate the 22nd India Knit fair, said the bank had already disbursed Rs 50 crore as subsidy under technology upgradation fund scheme for the textile sector.

Another Rs 75 crore would be released to 400 applicants within one week, as the bank was awaiting the release of amount from the Centre, Gupta said.